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Buy-Rated CRM Target $45
Salesforce.com, Inc. (CRM - Analyst Report) is the market leader in the on-demand Customer Relationship Management (CRM) space and continues to see substantial subscriber and customer growth.
With strong results in fiscal 2009, the company has exceeded our estimates once again in both top-line and bottom-line growth. Meanwhile, we believe the acquisition of InStranet also makes strategic sense, and over the long-term EPS growth will further accelerate.
We therefore reiterate our Buy rating on Salesforce.com's shares with our 6-month price target of $45.00.
Anita Mohata contributed to this report.
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| Market Summary | Nov 08, 2009 04:41 am ET |
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